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Best Australian dollars to British pounds exchange rates today (AUD/GBP)

Find the best AUD/GBP exchange rate and avoid transaction fees when you transfer money from Australia to the UK.

When you need to send money back home to the UK from Australia, it’s crucial that you find the best AUD/GBP exchange rate. By timing your transaction when the AUD/GBP exchange rate is at its highest, you can enjoy the best value for money. And if you compare money transfer providers before making your transaction, you’ll be able to lock in the highest rate available and avoid costly transfer fees.

But how do you know when it’s the best time to send money from Australia to the UK? Read on to find out.

Compare AUD/GBP money transfer exchange rates below

Rates last updated December 4th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More
Exclusive: World First Foreign Exchange
Exclusive: World First Foreign Exchange
Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
AUD 500 2 days Online, Phone Go to site More
Exclusive: CurrencyFair International Money Transfers
Exclusive: CurrencyFair International Money Transfers
Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.
EUR 8 2 days Online Go to site More
FC Exchange International Money Transfers
FC Exchange International Money Transfers
No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent. GBP 10 1 day Online, Phone, Bank Account to Bank Account Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com.au exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
Currency Online International Money Transfers
Currency Online International Money Transfers
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free. AUD 0 2 days Online, Phone Go to site More
Compass Global Markets International Money Transfers
Compass Global Markets International Money Transfers
Send money in as little as 24-48 hours to a range of countries with Compass Global Markets. AUD 1,000 2 days Online, Phone Go to site More
1st Contact International Money Transfer
1st Contact International Money Transfer
$0 online fee without any minimum limit on money transfers. AUD 0 2 days Online, Phone, Bank Account to Bank Account Go to site More
Currency Solutions International Money Transfers
Currency Solutions International Money Transfers
Send money overseas for a range of reasons, including regular payments and buying overseas property. 97% Trustpilot score. AUD 3,000 2 days Online, Phone, Bank Account to Bank Account Go to site More

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AUD/GBP: How to get value for money

There are two issues you need to take into account when sending money from Australia to the UK:

  • Timing your transfer so you can take advantage of a high AUD/GBP exchange rate
  • Choosing a money transfer provider that offers the best AUD/GBP exchange rate and low transfer fees

To kick things off, let’s look back at the history of the AUD/GBP exchange rate to find out how you can pick and choose the best times to send money to the UK.

Australian dollar to British pound exchange rate history

Introduced in 1966, the Australian dollar (AUD) was originally a fixed currency, pegged directly to the US dollar (USD). Following short periods as a managed floating currency and then being pegged to the British pound sterling (GBP), the AUD became a free-floating currency at the end of 1983.

The GBP and the AUD respectively represent the fourth- and fifth-most traded currencies in the world, but it’s the GBP which has always performed stronger against its younger rival. Since its introduction, the AUD has consistently traded at a much lower value than the GBP. Across the past 10 years, the dollar has traded at a low of £0.38 in October of 2008 and a high of £0.69 in March 2013.

Australia’s much-publicised mining boom, which was fuelled by China’s strong growth, led to a strong Australian economy during times when other countries were reeling from the global financial crisis of 2008. However, by the time the AUD experienced its strongest performance against the GBP in 2013, the growth rate of the Australian economy had begun to slow.

The AUD weakened against several major global currencies in 2015, trading around the £0.46 to £0.47 mark during October 2015, but was to see an upsurge in value relative to the GBP following the results of the Brexit vote in June 2016. As the value of the GBP plummeted following the decision to leave Europe, the AUD steadily increased to trade around the £0.62 to £0.63 mark in November 2016.

When can I find the best AUD/GBP exchange rate?

The value of a country’s currency fluctuates all the time, as you can see by looking at a 10-year graph of the AUD/GBP exchange rate history. With this in mind, it’s essential to transfer money from Australia to the UK when the exchange rate is at its peak, as this allows you to get the best value for money.

For example, let’s say you wanted to exchange your AUD for GBP in May 2016, when 1 AUD was worth 0.49 GBP. Just a couple of months later in July, the AUD/GBP exchange rate had risen to 1 AUD = 0.58 GBP. As the table below shows, by waiting two months to send your international money transfer, you could have received a much better deal. To further demonstrate the point, sending the transfer in late October, when the AUD was trading at 0.63 GBP, would have provided even better value

May 2016July 2016October 2016
Transfer amount (in AUD)$1,000$1,000$1,000
Exchange rate1 AUD = 0.49 GBP1 AUD = 0.58 GBP1 AUD = 0.63 GBP
Amount received (in GBP)£490£580£630

By sending a transfer in October rather than May, you could have sent an extra £140 back home to the UK – without paying an extra cent of Australian currency.

How do I know when to transfer AUD to GBP?

The best time to send money from Australia to the UK is when the AUD is at peak value compared to the GBP. However, working out the future performance of an exchange rate can be very difficult. There are many influencing factors that can affect the value of one currency versus another, including interest rates, inflation, political changes (such as the Brexit vote) and consumer sentiment in each country.

As a result, there’s no easy way to predict what course the AUD/GBP exchange rate will take. However, you should definitely monitor financial news to gain impressions of a country’s economic performance and the strength of its currency, plus stay abreast of reports from financial experts predicting future changes to exchange rates. Looking back at the history of the AUD/GBP exchange rate could also help you develop an understanding of when one currency is overvalued relative to another.

The best time to transfer AUD to GBP is whenever the AUD is strong compared to the GBP. In other words, you want to send a transfer whenever your Aussie dollars will purchase as many pounds as possible.

As the graph below shows, the best times to transfer money from Australia to the UK in the year leading up to 16/11/2016 were:

  • In July 2016, when 1 AUD = 0.58 GBP
  • In August 2016, when 1 AUD = 0.59 GBP
  • In October 2016, when 1 AUD = 0.63 GBP

Australian dollars to British pounds

*Screenshot taken from xe.com, 16/11/2016

Choosing the right transfer provider

Choosing the right time to send your international money transfer isn’t the only thing you need to do to ensure the best exchange rates; you will also need to compare a range of money transfer providers to find one that offers the winning combination of high exchange rates and low fees.

There are three main options when sending an international money transfer from Australia to the UK:

Banks

You can send money directly from your Australian bank account to an account in the UK.

Cash pickup transfer providers

Western Union and MoneyGram both offer fast cash transfers that can be picked up from transfer agent locations. Each company has a global network of hundreds of thousands of cash pickup points.

Online transfer providers

These providers, such as OFX and HiFX, offer secure and convenient online transfers to the UK and countries around the globe.

Even if you choose the perfect time to transfer funds and the AUD/GBP exchange rate is at its peak, you can still lose out if you accept a low rate. Most money transfer providers make money on the margin, which is the difference between the mid-market exchange rate and the rate they offer to their customers.

As a result, the exchange rates on offer can vary greatly from one provider to the next. For example, banks tend to provide much lower exchange rates than online transfer companies, so choosing the wrong transfer option could cost you hundreds of dollars.

Specialist transfer providers also charge lower transfer fees than the major banks when you send money overseas. There are some providers that will even waive their fees completely if you transfer a large amount, so it’s definitely worth comparing your options and shopping around.

Case study: bank vs money transfer provider vs cash pickup provider

Dave is spending a couple of years living and working in Australia, but he regularly sends money back home to England to support his ageing parents. In the past he has transferred the funds directly from his “Big Four” bank account, but he decides to compare his options to see if he can find a better deal. He compares the exchange rates and fees for sending AUD$1,000 to GBP with a bank, a cash transfer company and a money transfer provider.

BankCash transfer companyOnline transfer company
Exchange rate1 AUD = 0.5734 GBP1 AUD = 0.5772 GBP1 AUD = 0.6062 GBP
Transfer fee$22$20$7
Transfer methodBank transferCash pickupOnline transfer
Processing time2–5 days10 minutes2 days
Amount sent (in AUD)$1,000$1,000$1,000
Amount received (in GBP)£570.34£577.20£601.98

As you can see, even though the difference in exchange rates doesn’t seem all that large, using a specialist online transfer provider allows you to send more than £30 extra than if you use a bank, or more than £24 extra than if you use a cash transfer provider. It’s also important to note that you can also save $15 (vs a bank) or $13 (vs a cash transfer company) on fees by using the online transfer provider.

This shows just how crucial it is to compare money transfer providers before you send money from Australia to the UK. Find a detailed breakdown of how to compare money transfer companies in our guide to international money transfers.

Other tips to help you get the best AUD/GBP exchange rate

There are plenty of other steps you can take to ensure that you find the best AUD/GBP exchange rate for your next international money transfer:

Monitor the current rate

With the help of trusted currency conversion websites like XE and Oanda, you can stay abreast of the current mid-market AUD/GBP rate. Compare this rate to the exchange rates on offer from money transfer providers to determine whether you are getting value for money.

Get quotes

The exchange rate quoted on the homepage of some money transfer providers or on their online calculators is the interbank rate – not the rate they offer to customers. To find out what exchange rate will actually apply to your transaction, fill out the info required to obtain a quote and then compare quotes between providers.

Use forward contracts

A forward contract allows you to lock in an attractive exchange rate now for a transaction that will take place at some stage in the future, possibly even years in advance. This makes it possible to protect yourself against falling exchange rates, but not all money transfer companies offer forward contracts as an option.

Use limit orders

Limit orders are another flexible transfer tool that allow you to lock in a good rate and also save time. When you place a limit order you choose the exchange rate you want and enter the details of your transfer, and that transfer will be automatically sent when the exchange rate you want becomes available.

Send big transfers

There are a couple of reasons why sending one big transfer instead of several smaller transactions can save you money. First, this will mean that you only pay one transfer fee instead of multiple fees. Second, some providers will waive their fees altogether on large transfer amounts.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

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